Dopkins Wealth Management LLC Raises Position in Apple Inc. (NASDAQ:AAPL)

Dopkins Wealth Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,959 shares of the iPhone maker's stock after purchasing an additional 2,359 shares during the quarter. Apple comprises about 1.7% of Dopkins Wealth Management LLC's investment portfolio, making the stock its 13th biggest position. Dopkins Wealth Management LLC's holdings in Apple were worth $3,245,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC increased its stake in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC increased its stake in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.2%

Shares of AAPL stock traded down $0.47 during trading hours on Thursday, reaching $199.95. 51,367,725 shares of the company's stock were exchanged, compared to its average volume of 56,208,923. The stock's 50 day moving average is $204.01 and its 200-day moving average is $225.36. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Maxim Group boosted their price objective on Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. UBS Group dropped their target price on Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Citigroup restated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Finally, Argus upgraded Apple to a "strong-buy" rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.